North Carolina – Hanley Law

Hanley Law is currently investigating claims against Jason Marshall (CRD No.: 4012664) and Wells Fargo Advisors, LLC (CRD No.: 19616). The Hanley Law recently filed a FINRA Arbitration claim on behalf of a Claimant in which it was alleged that Jason Marshall made certain representations that were materially false, and that the Claimant relied on those false representations to his detriment. Furthermore, Claimant alleged that Wells Fargo Advisors omitted material facts in making investment recommendations to him. Claimant alleged that Wells Fargo Advisors, through their registered representative Jason Marshall, recommended an unsuitable investment strategy. Indeed, Claimant alleged that Wells Fargo Advisors and Jason Marshall recommended a 72(t) election with unsustainable monthly distributions. Additionally, Claimant alleged Marshall over-allocated his accounts to equity investments. It was further alleged that Wells Fargo Advisors ignored Claimant’s age and financial position in making the unsuitable investment recommendations. Claimant alleges that due to Wells Fargo Advisor’s misconduct, Claimant has suffered out-of-pocket losses for which he seeks a recovery.

FINRA Rule 3010 requires each member to establish and maintain a system to supervise the activities of each registered representative and associated person in order to achieve compliance with the securities laws, regulations, and FINRA rules. FINRA rule 3010 requires broker dealers to ensure that their associated persons adhere to FINRA’s suitability guidelines.

In the recently filed arbitration claim, the Claimant alleged that Wells Fargo Advisors, through its registered representative Jason Marshall, violated industry rules, including but not limited to, FINRA’s customer suitability standard (Rule 2310) as well as FINRA rules 3010 and 2110 and that Respondents violated their duty of care and were negligent. Furthermore, it has been alleged that Wells Fargo Advisors breached the contract that was entered into between Claimant and Wells Fargo Advisors and that Wells Fargo Advisors also breached the fiduciary duty that a securities firm and its employees/agents owe to their clients. Lastly, it has been alleged that Wells Fargo Advisor’s misconduct constitutes common law fraud and that the Claimant’s account was handled negligently, that Wells Fargo Advisors was negligent in their hiring, retention, and supervision of their employees.

If you were a client of Jason Marshall or Wells Fargo Advisors and have suffered investment losses, please contact the Hanley Law to explore your legal rights. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be able to recover your financial losses. Contact us today toll free at (239) 649-0050 for a free initial consultation.

Hanley Law is currently investigating claims against Renita McDougal (CRD No.: 2041218) and Wells Fargo Advisors, LLC (CRD No.: 19616). The Hanley Law recently filed a FINRA Arbitration claim on behalf of a Claimant in which it was alleged that Renita McDougal failed to recommend and implement a suitable investment strategy for Claimant in breach of the duties and obligations owed to Claimant under industry rules and regulations. It was further alleged that Respondent Wells Fargo Advisors, LLC, through their registered representative Renita McDougal, failed to inform Claimant of all of the material risks associated with her portfolio.

It has also been alleged that McDougal failed to inform Claimant of all of the material risks associated with her portfolio and that McDougal failed to disclose material risks and failed to recommend suitable investments given Claimant’s investment objectives. Claimant also alleged that Renita McDougal made promises to Claimant in order to secure her accounts, including the proper management of her portfolio in light of her stated investment objectives and that Renita McDougal did nothing to protect the assets Claimant entrusted to her care. Moreover, it has been alleged that Respondents implemented an overly aggressive investment strategy. Claimant alleged that she lost principal as a result of Respondents’ actions and Claimant’s investment goals were not met.

In the recently filed arbitration claim, the Claimant alleged that Respondent, Wells Fargo Advisors through its registered representative Renita McDougal, violated industry rules, including but not limited to, FINRA’s customer suitability standard (Rule 2310) as well as FINRA rules 3010 and 2110 and that Respondent violated their duty of care and was negligent. Furthermore, it has been alleged that Respondent breached the contract that was entered into between Claimant and Respondent and that Respondent also breached the fiduciary duty that a securities firm and its employees/agents owe to their clients. Lastly, it has been alleged that Respondent’s misconduct constitutes common law fraud and that the Claimant’s account at issue were handled negligently and Wells Fargo Advisors was negligent in their hiring, retention, and supervision of their employees.

If you were a client of Renita McDougal or Wells Fargo Advisors and have suffered investment losses, please contact the Hanley Law to explore your legal options. The Hanley Law is dedicated to helping investors who have been victims of securities fraud. If you have lost money as a result of securities fraud, you may be able to recover your financial losses. Contact us today toll free at (239) 649-0050 for a free initial consultation.

Tag: North Carolina

Hanley Law Investigating Claims Involving Jason Marshall and Wells Fargo Advisors, LLC

Hanley Law Investigating Claims Involving Renita McDougal and Wells Fargo Advisors